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Feds have some ‘splaining to do on TMX, MPs say – National Observer

July 4, 2024

Federal ministers will have to answer this fall for billions of taxpayer dollars poured into and propping up the Trans Mountain pipeline expansion.

NDP MP Charlie Angus joined forces with opposition MPs in the Natural Resources Committee to get federal ministers to answer their questions about the $34.2-billion project shortly after the government greenlit another loan guarantee — for a total of $19 billion — intended to ensure Trans Mountain Corp. can get financing.

Although Finance Minister Chrystia Freeland pledged not to spend any more public funds on the already over-budget pipeline, the federal government has issued these loan guarantees to convince banks to finance the project — effectively promising that if Trans Mountain can’t pay back the loan, taxpayers will foot the bill. The price tag was an estimated $7.3 billion in 2018 when the federal government purchased the pipeline from Kinder Morgan for $4.5 billion.

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